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Question
A $5,000 face value municipal bond matures in 14 years and is priced at $4,862. The coupon rate is 4.5 percent with interest paid semiannually. What is the yield to maturity on the bond?A. 4.77 percent
B. 5.14 percent
C. 5.40 percent
D. 5.61 percent
E. 5.97 percent
Answer
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